Cuffless evaluation of arterial blood pressure (BP) using pulse wave velocity (PWV) has received attraction over the years. Local PWV based techniques for cuffless BP measurement has more potential in accurate estimation of BP parameters. In this work, we present the design and experimental validation of a novel single-source Photoplethysmograph (PPG) transducer for arterial blood pulse detection and cycle-to-cycle local PWV measurement. The ability of the transducer to continuously measure local PWV was verified using arterial flow phantom as well as by conducting an in-vivo study on 17 volunteers. The single-source PPG transducer could reliably acquire dual blood pulse waveforms, along small artery sections of length less than 28 mm. The transducer was able to perform repeatable measurements of carotid local PWV on multiple subjects with maximum beat-to-beat variation less than 12%. The correlation between measured carotid local PWV and brachial BP parameters were also investigated during the in-vivo study. Study results prove the potential use of newly proposed single-source PPG transducers in continuous cuffless BP measurement systems. © 2016 IEEE.